Algeria’s Oil & Natural Gas Output is moving back to growth after years of stagnation

Iran:  Algeria's oil and gas output is moving back to growth after years of stagnation, helped in part by increased production from existing fields. Algeria Oil output will reach 69 million tonnes of oil equivalent in 2016, against 67 million tonnes last year, while gas production will rise to 132.2 bcm in 2016 from 128.3 bcm in 2015. Fall in production is mainly attributed to drop in export to Europe, slowing production at mature fields and low investment for production from existing mature fields.

TechSci Research depicts that the increase in investment by Eni, Anardarko, BP, Cepsa, Shell, Statoil and Sinopec will boost the crude oil and natural gas production in longer term. The Upstream companies in Algeria will invest in drilling new oil field and enhanced oil recovery from mature oil fields. Over the last few years, global enhanced oil recovery market has been growing on account of increasing global energy demand. Increasing number of mature oil wells and high productivity levels achievable by using EOR techniques.

According to a recent report of TechSci Research “Global Enhanced Oil Recovery Market Forecast & Opportunities, 2020”, the global enhanced oil recovery market is projected to witness growth of around 8% through 2020. With a share of over 30% in 2014, North America is forecast to continue its dominance in the global enhanced oil recovery market during 2015 - 2020. Over the next five years, onshore crude oil reserves are expected to witness higher crude oil production through enhanced oil recovery methods compared to off-shore oil reserves.